OCR Text

Lethbridge Herald, The (Newspaper) - June 23, 1972, Lethbridge, Alberta
Friday, 33, 1972 THE LETHMIDGE HERALD 19 Prices edge up after drifting Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dohcrty, McCuaig Limited) LAST BID OR SALE a.m. Ouolell Buoles) i.m. Quoin) WESTERN OILS Husky Oil B O.Wh Mutual Ac The tax column TORONTO (CP) Prices on the Toronto slock market edged fractionally li i g h e r in quiet mid-morning trading today after drifting without direction during the opening minutes of tlie session. The industrial index was up .03 to 202.96, golds .62 to 214.06 and base metals .26 to 94.64. Western oils wore down to 234.31. Volume by 11 a.m. was sliarcs, down from at the same time Thursday. Trading was delayed at tho opening in the shares of Impe- rial Oil due to an influx of or- ders. When trading resumed, shortly after 11 a.m. [lie stock fell 1% to -36'A. Despite the general upswing, declines outnumbered advances lie to 110 with 186 issues un- changed. Beverage, general rnanufac- t u r i n g, merchandising, in- dustrial mining and communi- cation issues moved fractionally higher while pipeline, banking and steel stocks edged lower. National Drug was up to Guaranty Trust to Maclean-Hunter Cable 11 to Ranger Va to and Jnco V4 to Falconbridge dropped 1 to Bow Valley 'i to BP Can- ada Y> to Leon's Furniture to and Denison MONTREAL MONTREAL" to (CP) -Prices continued to drop on the Mont real stock market today as utili ties, banks and the composit Pacific Trans .i" Gaz Metro Gaz Metro Pfd Trans cda Plpo Trans Cda B Trans Cda A Trans Cda War WC Trans WC Trans WIs 34.00 MUTUAL FUNDS 6.87'A Alt Cdn Com 3050 All Cdn Dlvfd 9.4010.27 10.00 1.2? 5.50 Alias Explor Bath Norse Brcnda Brycoo Churchill Copper Croyden Davenport Dankoe Dolly Varden 16.25 Dynasty 12-8716 EqulfOflal 25.50 Fort Reliance Giant Mascot S.OO Granisle 70.00 Lornex Lyllon Minerals Pflmer 81.00 Pyramid 12.00 Silver Standard 27.627) Texmont 9.65 Trojan Valley Copper WC Res INDUSTRIALS .34 10.25 .21V! .33 5.00 8SO 8.25 2.17 .15 .33 1.41 .53 .24 M Tax-thinking changes coming 3575 All Cdn Vent Block Bros 3.35 2SOO Amr Gr F 7-43 B.C. Sugar 20.50 2712V4 AGF Special 3.S3 B.C. Sugar Pfd 12.00 SMVi Cdn Invest F 5.05 5.55 Capt Inler 4.72 Cmiw Inler 14.52 15.76 Crestbrook F Ind 3.65 1225 Col Mutual 6.95 7.43 Kys 3.75 1500 Cmnw Lev 3-93 Columbia 3.35 Corp Invest A.W Key Indust .65 Corp In St F 5.13 5-7! Paclffc W Air 24.50 Dreyfus F U.S. 13.33 14.61 Stampede Intl Res .71 Gr In Shares 4.17 4.59 OILS Gr Equity 7.W 8.73 Albany Oil Invest Gr F MM 13.57 Plains Pel .24 Invest Mutual 5.B7 6.42 West Explor .10 31 '25 n'25 4t.50 Toronto mines., industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE a.m. QuoTesI Quotes! By I. H. ASPER Two separate but considera- bly significant events took place during the past few weeks on the Canadian tax scene. While both are still In the suggestion stage, if either proceeds to im- plementation, the Canadian tax system would become very dif- ferent indeed. The first event was the an- nouncementby Opposition leader Robert Stanfield that were he to form a government, he would radicalize the personal income tax system by removing the inflationary component from one's taxable income. He would accomplish this by allowing the taxpayer, each year a deduction equal to the cost-of-living incre- ment so that one would pay tax only on his actual spending pow- ers for the year, expressed In constant dollars. The second event consist's of a series of moves by Ontario, Quebec, British Columbia ant the Atlantic provinces in what looks like a drift toward abolish ing death taxes in most cases in most provinces. Should lh occur, we will have taken a ISCKlcgree turn from where we were at the beginning of thi year. And, Alberta Premie Peter Ixiugheed, though not nee OUW a.m. Quotes! MINES Calgary livestock CALGARY CCP) Receipts at the Calgary livestock mar- ket to II a.m. totalled 700 head, mostly replacement cattle and Calves. Trade was active. Slaughter steers and heifers were steady for quality; cows were lower and insufficient were offered to establish a market. Hog prices EDMONTON CCP) Aver- age prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board: Edmonton: 31.80, average Thursday 32.68. Red Deer: average Thursday 31.54. Calgary: 31.80, average Thursday 31.62. Fort Macleod: No sales, av- erage Thursday Lethbridge: No sales, aver- erage Thursday 32.64. Grande Prairie: No sales, av- erage Thursday 30.82. Good to low choice slaughter leers 34.25 to 36.20, medium 3.50 to 34. Good heifers 32 to 3, medium 30 to 32. Good cows 5 to 26, medium 30 to 32, and cutters 19 to 23. Replacement cattle w e r o mostly yearling steers and heif- rs selling steady for quality. Stock calves were fully steady. Good feeder steers more than '50 pounds 35 to 35.35, less than '50 pounds 37 to 39.25. Good eeder heifers 32 to 34.25. Good stock and feeder cows 24 to 28, Good stock steer calves 40 to 7.50; good stock heifer calves 36 to 42. Hogs base, price 31.80. Acme Advocate Aib, Akailcho Bralorne Broulan Brunswick Canada Tung. Casslar Central Pat. C lit mo Conwest Cons. Rambler Coin Lake Cochenour Cralgmonf Dlckenson Mines Denison Deer Horn D'Eldona Dome Mines Donalda Oshko Pine Point Placer Dev. P.C, E-xp. Quebec Man Rayrock Radlorc R1o Algom 16.63.iA Roman Corp. 1.50 Sherrllt Gordon Silver Miller Steep Rock Tek Corp. Texmont Upper Canada Weslern Mines Wright Willroy Windfall .30 4.05 1.50 1.14 7.05 1.52 .13 .07 .44 7675 .45 .29 Dofasco 31.50 Cable 39.75 Ford of Am 3.80 Grl Cdn Oil ,11V) Gen Motors 1.11 Grt Lakes Pp .28 Gulf On 21.00 Greyhound 6.30 Hawker Sfd Hur Erie ,05 Hiram Walker 1.98 Imp Oil 5.25 .53 Int Ktcket 2.40 Int Pipe Inv Grp A vesl.25 Int U1IL Ind Accept 'aurcnMde Lau INDUSTRIALS (.40 1.70 3.65 5.50 Frobex First Marlllmi Giant Y.K, Bovls Gronduc Headway R.L. Holllnger ing targets could have been met on schedule "and, Indeed, expanded." The pool president emphasiz- ed the need for a concentrated if fort by al] the parties in- volved to find ways to over- come the problems. "If this Is not done, any other steps will be only partial- ly effective." With competition keen on world markets, the wheat board must be aided to meet its commitments on time and the complex problem will not be solved by individual segments of the industry working in isola- tion. "We need a spirit of team- work to identify and implement the required changes." Mr. Turner said the federal government has a "clear responsibility" to assure a n adequate and reliable transpor- tation system. "It is urgent that government make a commitment to this end and focus their immediate attention on it." olutionize the fiscal structure of the entire country and might ne- cessitate wage and price and other inflationary controls. And if it is valid for individuals, why not apply it to corporations? II it is valid for income tax, why not apply it to sales taxes, ptnp- erty taxes and the like, where inflation really creates a much greater tax hardship for tha low-income consumer? VALID CONCEPT Notwithstanding the difficul ties and practical problems to herent in the Stanfield plan, hi concept is valid and the fact that a politician of his slatio has adopted this principle is worthwhile contribution to th task of enlarging the public' awareness and comprehenslo of the relationship among taxes inflation and the rising cost o government. The other tax development, In the succession duty field, is grim reminder to ail govern ments that they liva in a tax competitive world. It is remarl able when we consider that o January l, 1972, the federal go' eminent abolished estate taxes that all provinces except A berta immediately announcec that they would levy a succes- Atlantic provinces raised the ex- e mpt ion to then Quebec announced a 20-per-cent cut for next year and hinted at a total phase-out program. In response, two weeks ago, B.C. announced total abolition, and Ontario reacted by appointing a special legislative committee to recommend a course of action step which will likely lead to an abandonment program In Ontario of one kind or another. The Atlantic area now is await- ing Ontario's decision before reassessing its position. That's tax warfare. But in the midst of these sud- den developments, sit Manitoba and Saskatchewan, the prov- inces which have showed the slowest population growth over e past five years, steadfastly nging to the new tax on all :ates over The Prairie provinces' post- Is the least understandable. eath tax abolition is generally ed to attract capital to slow- owth regions. Here we have e unlikely reverse slowest-growth provinces m p o s i n g the highest death xes while the wealthy prov- ces become death tax havens! All taxpayers must hope that IB reshuffling of the tax deck cards will soon stop, so that ley can return to a consistent and stable tax environment In hich they can plan their af- airs, relying on the continuity, or better or worse, of the tax ystem. sion duty tax in varying d g r e e s. This, notwithstandin that it is contrary to the spo- of the federal tax reform ph which implied that the new ca ital gains tax would replai death taxes. Alberta immediately dealt self out of the game and d clared itself a tax haven. 0 tario responded by raising t husband-and-wife exemption K. C. Irving left t country and not surprisingly t Lloydmirjster: No sales, av-rage Thursday 31.82. Total hogs sold Thursday average 32.40, sows aver-iged place June 28 in Dublin, Jie Irish Hospital Sweepstakes Board announced today. First ticket out of Ihe drum will win the lucky owner a super-prize of The prize money on subsequent tickets will be determined by the results of the Irish Sweeps Derby to be run at the Curragh July 1. Canadian ticket-holders have been cleaning up in recent sweeps. The pot of gold went to Ontario residents twice last March to Guy LeBlanc of Azitda and at Christmas, 1971, to Mrs. Isabelle Booth of CCP) Rape-seed prices moved slightly lower in a light volume of trade at mid-session on the Winnipeg Grain Exchange today. Exporters were reluctant buyers in that commodity, waiting for results of the devaluation of the pound sterling. Flax prices also worked lower on fair commission house selling while the rest of tha market was dull and featureless. Volume of trade Thursday was bushels of flax, o! rapesecd, of rye. Mid-session prices: Flax: July 114 lower 2.76% A; Oct. 1% lower 2.77T4A; Nov. 114 lower Dec. 1 lower 2.73KA. Dollar value MONTREAL (CP) U.S. dol ar in terms of Canadian funds was unchanged at 1-16 today. Pound sterling was down 4% to NEW YORK (CP) Cana dian dollar down 1-32 at 31-64. Pound sterling down C 33 64 at OLIVETTI CANADA LIMITED INTERNATIONAL OFFICE EQUIPMENT MANUFACTURER Requires the services of a sales representative in Lethbridge Salary, bonus, fringe banefifs and an excellent opportunity for advancement. Selling experience preferred bul not essential. A car jj necessary. Per appointment Phone Mr, n. j. MCDOWELL fa we en 9 a.m. !o p.m. Monday through Friday, at report EDMONTON (CP) Weekly egg and poultry report issued by the federal agriculture department: ECS To producers: A large 42; A medium 37; A small 22; B 17; C 6; Cracks 8. To retailers: A large 53 to 56; A medium 48 to 51; A smal 38; B 37 to 38. To consumers (in A large 55; A medium 50; A small 39 lo 43. POULTRY To producers: Live No. 1 chick Broilers, 6 and over, 26; 5 and under 6, 23. Fowl Under 4, 4 to 6; turkey 12, 27H; 12 to 18, 29; over 18, 27. Live No. 2 chick Broilers, 19; 6 and over, 23; 5 and under 6, 20. Turkey Under 12, 12 to 18, 26; over 18, 25. APPOINTMENT! We are pleased to be appointed agents for Friesen Advertising Specialties "Weilern Canada's Only AH Canadian Printing Company" We have a of over 100 different available to now, at a very reasonable cost-Sufficient time be allowed 1o have your 1973 calendars printed and delivered. If you have not ordered your supply as yet, we urge you to please do so immediately. We have a large supply of samples available. Con act -MRS. M. WISKERKE BOX 969, COALDAIE, AlBERTA PHONE INSECTS Spiders have fuur pairs o legs and thus are related to, bu are cot, insects. Rapeseed Vancouver: June 1 ower Sep. IVz lower Nov. 1% lower 2.54Bj an. 1% lower 2.53'AB. Rapcsecd Thunder Bay: July Vz lower 2.38A; Oct, 1% lower ,40V4A; Nov. 1 lower Dec. unchanged Oats: July unchanged Oct. unchanged Dec. un- hanged Barley: July unchanged ..093M; Oct. higher UOViA; Dec. unchanged Rye: July lower 1.01; Oct, i lower Dec. lower Grain quotes Thursday (basis High Low Close ..Flax Jiy 2.1S% Oct 280% MOV 279 lb Dec 275 274% Kapcsecd Vancouver Jun 255 252% Sep 258% 256 Nov 255% Jan 255 254% 278ft 279ft 277% 252% 256ft 255% 254% Fertilizer fixing'' is probed OTTAWA Consumer and Corporate Affairs Minister Rob- ert Andras says his department is "looking into" farmers' com- plaints about possible fixing of fertilizer prices in Canada. Manitoba MP Craig Stewart brought the matter up in the House of Com- mons on Thursday. He pointed out that Cliff Downey tle River) had earlier voiced concern about the high cost of fertilizer in Canada compared lo prices in the United States. Mr. Stewart wanted to know if the consumer and corporate af- fairs department had investi- gated the situation and whether Mr. Andras would make a state- ment in the Commons. Replied Mr. Andras: "I be- lieve I said the other day that I took the representation as no- tice. We are looking into the matter." The Manitoba MP then asked whether the federal department of agriculture has asked for an investigation. "Not to my re- plied Mr. Andras. (Mr. Asper Is Winnipeg Schwartz Agencies (1972) Ltd. APPOINTMENT 1EE MARKER Schwartz (1972) Lid. ore pleased to announce pointnienl of Lee Marker as of our sales representatives. LCB was with the Southern Alberta Co-Operative Association far 18 years and Is a married man. He Invites all His friends and business associates to contact him for their realty needs. Phone him at 328-3331 or ot his residence at 327-791 I. Rapcsccd Thiindcr Bav- iy 241 238Vz '23917 Oct Mi% Nov Dec Oafs Jiy Oct Dec Barley Jiy Oct Dec Rye Jiy U Oct M Dec 69% 242% 234'A 69% 70Vi 70'A 109% 110 10974 101'A 99% Vancouver said leading stock exchange in Canada VANCOUVER (CF) Van- couver stock Exchange Presi- dent Thomas Dohm said Thurs- day the Vancouver exchange now ranks third in trading vol- ume among North America's stock exchanges. The front runners are the New York Stock Exchange and the American Stock Exchange. Mr. Dohm told a service club the Vancouver exchange had a trading volume of 159 million shares in April higher than the volume of an entire year a decade ago. He said mineral discoveried In the province have sparked investor interest, both locally and to a greater extent in east- em Canada and foreigln coun- tries. Beef futures WINNIPEG beef futures close Wednesday: Jiy 35.60N; Sep 3S.OO; Nov 35.50A. Wednesday's volume: No con tracts. STEAM ENGINEERS Second class Steam wirh a valid British Columbia or Alberta Certificate are required for a sulphur plant near Fort St. John, B.C. Alberla S.A.I.T. groduatei with o third certificate and deifroui of qualifying for a B.C. second class are inviled to apply. Relocation wilf be paid by Company ond interviews will be arranged for Edmonton or Calaory. Liberal Company benefits, reply to Box Number 133, Money earns good, safe interest in a Lombard North Centra! Deposit Account A Bank Deposit Account with Lombard North Centra! provides a good rate of interest, with complete safety for your capital -leading to financial peace of mind. Deposits at 6 months' notice of withdrawal earn 6% interest per annum. The ratofor deposits exceeding is subjectto negotiation. Interest is paid half-yearly without deduction of U.K. tax and up to 00 can be withd rawn on demand during each calendar year. TIME DEPOSIT Fixed period deposits of and over can earn higher rates of interest. Details are available on request. Opening an Account is simplicity itself, so write now to the Deposit Account Managerforfurther details and a copy of Deposit Account Booklet No. AO 51 6. Lombard North Central Hftad Lembtrd Cvnon Stmt. Wl A 1 EU, CiTy Offica 3 1 Lombard St, Undort ECJ, Lombard North Central Limited [5 R member of lha National BanV Gioup whose Capita] and
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